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Indonesian Investment Firm Signs Distribution Deal With HSBC
Vanessa Doctor
24 February 2014
, president director of Eastsptring Investments Indonesia. HSBC is not the only foreign bank with whom Eastspring has distribution arrangements. Earlier, it inked agreements with Standard Chartered Bank, Permata Bank, Mandiri Sekuritas and ANZ. Data from the Indonesian Financial Services Authority shows that the local mutual fund industry saw a 2.64 per cent rise to IDR192.54 trillion ($16.4 billion) in 2013, from IDR187.59 trillion in the previous year. As at 30 September 2013, Eastspring recorded IDR37.22 trillion assets under management.